For the past few years, the Indian government has taken the necessary steps to encourage entrepreneurship and skill development because India is currently experiencing a demographic dividend, and most of the Indian population is young. They can make a significant contribution to India's economy through skill development. The government has taken many reforms; one of them is Udyam Registration and Jharkhand Skill Development Initiative, which is playing a very important role in empowering individuals, accelerating self-employment, and boosting economic growth. If entrepreneurship and skill development are effectively integrated, the business landscape can be transformed, especially the micro, small, and medium enterprises of the state, such as those located in Jharkhand.

In this article, we will explore the relationship between Udyam Registration and Various Skill Development Initiatives that have been launched by the Government of Jharkhand to support entrepreneurs, to create new jobs, and to encourage innovation.

First of all, let's understand Udyam Registration.

What is the meaning of Udyam Registration?

Udyam Registration is a government initiative that was launched by the Ministry of Micro Small and Medium Enterprises. It helps in simplifying the registration process as well as centralizing it for the MSMEs of India. This online registration system replaced the earlier Udyog Aadhar Memorandum in July 2020.

The MSMEs who register their business inside the Udyam Registration Portal get a Unique Udyam registration number; apart from this, they also get a udyam certificate download pdf  that helps to recognize their MSME status. The most special thing about this registration process is that it is entirely paperless and based on self-declaration.

Special benefits available after getting Udyam registration:

• Getting access to schemes and subsidies provided by the government
• Getting loans at low interest rates
• Getting access to credit and financial support
• Protection against delayed payments
• Eligible to participate in government tenders
• Preference in procurements by government departments and PSUs

Role of Udyam Registration in Jharkhand:

Jharkhand is a state which is very rich in mineral resources and this state has an abundant amount of tribal population which makes its social economic landscape very unique. This state has a lot of potential in bringing industrial growth especially in sectors like agriculture, textile, handicraft, and small scale manufacturing sector.

Udyam Registration plays a vital role in Jharkhand in all these ways.

• Many micro, small, and medium enterprises (MSMEs) operate informally in Jharkhand. But by registering their enterprises in the Udyam registration portal and filling the Udyam Registration Form, they can come into the formal economy.

• Through the Udyam Certificate, the entrepreneur can easily get loans and subsidies and many government schemes due to which helps in bringing financial inclusion.

• The registered MSMEs receive support in training, technology, upgradation, and marketing. Udyam registration helps women and tribal communities of Jharkhand to provide many benefits such as many incentives and participation in skill development programs.

Skill Development Initiative in Jharkhand:

The Jharkhand government has started the Jharkhand Skill Development Mission Society (JSDMS), which comes under the Department of Higher Technical Education and Skill Development. It is responsible for bringing skill development to the entire state. Its sole purpose is to enhance employability in the youth and develop their skills by understanding the needs of the industry. There are some programs of Jharkhand government like:

1. Johar (Jharkhand Opportunities for Harnessing Rural Growth)

The Johar project is funded by the World Bank, and it promotes rural entrepreneurship. Its objective is to provide skill training, capacity building, and financial support to self-help groups. It gives special emphasis to agriculture, livestock, and non-farm-based livelihoods.

2. Saksham Jharkhand Kaushal Vikas Yojana

This program provides specific skill training to youth. It collaborates with training partners and offers a number of courses in specific fields such as construction, IT, electronics, apparel, health care and many more.

3. Deendayal Upadhyaya Grameen Kaushal Yojana

The target of Deendayal Upadhyaya Grameen Kaushal Yojana is to provide placement-linked skill development training to rural youth aged between 15 to 35 years, especially to those who fall below the poverty line.

4. Mega Skill Center

The government has set up Mega Skill Centers in all districts with the aim of providing high quality training in modern trades. The centre has set a target to train thousands of youth annually by partnering with private players and industry leaders.

Now that we know what skill development initiatives are in Jharkhand, let us now understand how skill development can be connected to Udyam registration.

Connecting Udyam registration to skill development programmes

To create a sustainable entrepreneurship ecosystem, it is very important to work in harmony so Udyam registration and skill development initiatives can be taken in this new direction by synergising. Here is how they complement each other:

1. Empowering entrepreneurs

Skill development programs help individuals gain technical and soft skills, while Udyam registration helps MSMEs gain official recognition and financial support. By combining these two, an individual first time entrepreneur can boost his confidence even more and increase his chances of success even more.

2. Now they become job creators, not job seekers

Through the right skills and all the government schemes will be available in the right way through Udyam, due to which trained individuals will be able to set up micro and small enterprises instead of just looking for jobs. Its contribution is also in self-employment, apart from this, new jobs are also generated and the biggest problem of migration is eliminated.

3. Encouraging women and tribal entrepreneurs

As there are many tribal populations in Jharkhand and apart from this, the number of self-help groups by women is increasing, so Udyam registration can provide them a good benefit. Skill development centers can train them in trades like tailoring, handicrafts and food processing while Udyam registration can make them eligible for various special schemes and subsidies.

4. Market reach improves

Udyam-registered MSMEs get government support in branding, marketing, and digital presence, and this is very helpful for the entrepreneurs living in villages and getting trained under the JSDMS scheme, and their market reach becomes wider.

What are the challenges and the way forward?

Although the process is commendable, some future challenges need to be addressed, such as:

• Many entrepreneurs who live in remote areas are still unaware of the benefits of Udyam registration and skill development schemes.
• Lack of internet access or lack of digital literacy proves to be a barrier in the online registration and learning process.
• Training centers should maintain a high standard of quality and provide only industry-related content.
• Many trained individuals also need mentorship and financial support to start their ventures.

These challenges cannot be addressed by the government alone, but various stakeholders such as NGO, Training Partners, and digital platforms should come together and collaborate. It helps that MSMEs to be promoted properly in every area, whether it is a village or a city, and all the gaps that are coming up should be understood well and hand holding support should be provided.

Conclusion:

If the state's economy wants to sustain in the right direction and wants to grow and thrive then, Udyam Registration and Jharkhand Skill Development Initiative can prove to be a powerful tool. Together, it can create an environment due to which entrepreneur employment and inclusive growth can happen.

If entrepreneurs and skills individuals start a new MSME after understanding the skill development initiative and Udyam registration well and get their enterprises registered, then they will be able to take advantage of all the government initiatives, apart from this, they will be able to build sustainable livelihoods and also contribute to the development of the state.